Tax Issue Still Color EARTH

Tax Issue Still Color EARTH - Strengthening EARTH in earlier in the week, apparently unable to survive. This mining issuers must spend the weekend in the negative zone. The tax issue has been politicized, the cause.

On Friday (19 / 2), EARTH closed lower Rp25 to Rp2.300, continuing the previous day correction Rp100 to Rp2.325 level. Although when accumulated, these issuers scored 1.1% increase in a week.

Head of Research of PT Bhakti Securities Edwin Sebayang said the tax issue has been politicized, affecting stocks this week EARTH. Although it is fundamentally not a problem, but no doubt the tax case had been pressing this Bakrie subsidiary.

"The issue is politicized EARTH tax, seems to have just made up. Perpetrator market even see the tax issue will be compromised," he said when contacted INILAH.COM, Friday (19 / 2).

According to him, the case should not have sustained a tax like this. Because the financial statements have been checked by the Earth: the independent auditor. "So if there are tax issues, should have known a few years earlier," he said.

As is known, the Directorate General of Taxes (Tax Directorate) and the Indonesian Corruption Watch (ICW) pointed to lack EARTH taxes. In the period 2003-2008 financial report, stated there is a lower tax difference of U.S. $ 1.060 billion.

In addition alleged loss of tax to be imposed on the U.S. government's $ 477 million and the difference in royalties on coal (DHPB) worth U.S. $ 143 million. Total, the government estimated losses of U.S. $ 1.680 billion.

SVP Investor Relations EARTH, Dileep Srivastava, also denied accusations that hard. In a written statement to the Indonesia Stock Exchange (IDX) Friday (19 / 2), EARTH said all the company tax obligations have been paid according to the SPT 2008 tax year.

The company also claimed to have never received the Tax Assessment Letter (SKP) from the Directorate General of Taxes. This also applies to subsidiary, PT Arutmin Indonesia and PT Kaltim Prima Coal, the state had been paying for coal royalties in accordance with the payment period.

"Allegations that ICW is not true and very harmful slander and liability. The Company and the subsidiary has paid all tax obligations according to the SPT 2008 tax year," he said.

After weakening early in the week to come down to the level Rp2.225, the stock had appreciated belle EARTH Rp100 to Rp2.325 on Tuesday (16 / 2). These positive impressions continue on the next day, with up to Rp100 to Rp2.425 level.

EARTH positive sentiment came from his letter to the Stock Exchange at the beginning of the week, which denied the news that the government was seeking funds of U.S. $ 500juta. EARTH Management said that the news was only a speculation and can not be accounted for truth.

The capital market observers Willy Sanjaya said, EARTH shares decline on the last two days this week only reasonable correction. This is because the stock had been on Earth: 2475 level. "There was some panic in the market thus affecting the short-term stock index," he said.

According to him, other sentiments that affect the movement of stock EARTH this week also came from global factors. One of them is the action of the United States raised interest rates to bank lending. "These conditions also influence the stock indexes, including the Earth," he concluded.